Portfolio Updates|
ClearSpace raises €26.7m for the sustainable use of space
Lakestar is thrilled to announce our investment in ClearSpace as part of its €26.7m Series A funding round. ClearSpace specialises in space debris removal technology to make space operations more sustainable.
The Series A was led by OTB Ventures with backing by the European Investment Fund under the InvestEU programme, as well as Swisscom Ventures. The Luxembourg Future Fund, In-Q-Tel, Happiness Capital and 600 T Space Investments also participated. The fresh capital will go towards establishing an operational presence in Luxembourg that will benefit from the strong space and satellite focus there.
ClearSpace is an In-Orbit Services (IOS) company founded in 2018 with the mission to revolutionise how space missions are conducted. The startup is creating technologies that will support a wide range of IOS applications, from disposal and in-orbit transport to mission extension, assembly, manufacturing, repair, and recycling.
“We look forward to accelerating our activities to meet the urgent needs of space sustainability”
ClearSpace Co-founders, CEO Luc Piguet and CTO Muriel Richard-Noca said, “We began this company 4 years ago with the goal of making space operations sustainable and are delighted to be joined on our journey by our new partner investors. The market is now developing, much faster than we had expected, and we look forward to accelerating our activities to meet the urgent needs of space sustainability.”
ClearSpace aims to support institutions and commercial operators alike, to enhance sustainable space operations and promote a circular space economy. The company recently announced a satellite life-extension collaboration with satcom operator Intelsat building upon the technology being developed.
Commissioned by the European Space Agency (ESA) and supported by Omega as an Elite Partner, ClearSpace will also pioneer the world’s first space debris removal mission, ClearSpace-1, scheduled to launch in 2026. The mission will use state of the art technology and advanced on-orbit techniques to demonstrate the feasibility of removing debris from orbit. ClearSpace-1 will be the first of numerous missions the company is planning for both low-earth and geostationary orbits.
Lakestar Venture Partner & CPO Steven Jacobs said, "ClearSpace's innovative technology for removing space debris is set to play a crucial role in ensuring the sustainability of our orbits and European sovereignty in space. We look forward to supporting the team as they continue to make strides in this important industry."
